Sukha Balka and Duferco signed a UAH 2.5 billion ore supply contract

The deal of 9 January

According to the agenda  of the annual meeting of shareholders of Sukha Balka PrJSC that took place on 11 April, Sukha Balka minery and Duferco, one of the largest metal trading companies, signed an iron sinter ore supply contract worth UAH 2.5 billion (around $93 at the current exchange rate).

The deal was closed on 9 January.

The shareholders are expected to approve the contract signed by Gennadiy Bash, Sukha Balka’s CEO.

The meeting is also expected to prolong another four ore supply contracts (sinter and blast furnace ores) signed back in 2017. All those contracts are worth UAH 2.5 billion each and were signed with US Steel Kosice, Southern Mining and Processing Plant (only sinter ores), Ilyich Iron and Steel Works of Mariupol and Optimal Trade LLC.

In 2018, the company increased its ore mining volumes by 8.4%, up to 2.7 million tons.

Last week, DCH announced its plan to create a metals holding and invest $150–200 million in the minery and Dnipro Metallurgical Plant in five years.